A plan to build the first transcontinental freight railroad in the U.S. is putting a spotlight on a supply-chain chokepoint.

No single railroad today controls tracks from the West Coast to the East Coast, so carriers rely on each other to complete cross-country cargo deliveries. Freight trains loaded with goods from the Western U.S. typically have to stop at a rail yard in Chicago or another city along the Mississippi River and transfer their railcars to a different carrier for the remaining journey east. The process can lead to long layovers and shipping delays.

The Wall Street Journal’s Esther Fung reports that Union Pacific and Norfolk Southern say their proposed $71.5 billion merger will help fix that. The two railroads, which control tracks on opposite sides of the Mississippi, contend that by joining forces they can reduce bottlenecks at the Midwest interchanges and get coast-to-coast deliveries to retailers and factories faster.

The proposed deal is controversial, however, and already drawing opposition. Competing railroads say delays at interchanges can be reduced without the megamerger, and some customers worry that consolidation would give railroads more power to raise shipping rates and reduce service, making the time savings moot.

President Trump’s push to loosen China’s influence on the Panama Canal has hit a wall.

The WSJ’s Costas Paris writes that Beijing is demanding that China’s largest shipping company get a controlling stake in a deal to sell dozens of ports to a BlackRock-led group.

The proposed sale includes two ports at the Panama Canal and more than 40 others around the world, all controlled by Hong Kong-based CK Hutchison. BlackRock and containership operator Mediterranean Shipping Co. reached a $22.8 billion agreement in March to buy the gateways after Trump raised security concerns about Hutchison’s and the ports’ connection to China.

But the acquisition angered Beijing, which initially pushed for China’s Cosco Shipping to be brought in as an equal partner. Now Chinese leaders have upped their demands and are threatening to block the deal unless state-controlled Cosco gets a majority stake, according to people familiar with the talks.

• Mediterranean Shipping made a bid to acquire Israeli shipping company ZIM Integrated Shipping Services. (Calcalist)

An Alabama-based beverage wholesaler is among the companies that rely on pricey equipment that are benefitting from a U.S. tax incentive known as “bonus depreciation.” The WSJ’s Richard Rubin shares how it works in a video report.

The U.S. unemployment rate rose to 4.6% in November, its highest level in more than four years. (WSJ)

U.S. retail sales decelerated this fall. (WSJ)

Business activity in the U.S., Europe and parts of Asia continues to grow but at a slower pace. (WSJ)

U.K. joblessness climbed in the three months through October. (WSJ)

Kraft Heinz is replacing its chief executive after a tumultuous period that culminated in the decision to break up the company. (WSJ)

U.S. antitrust regulators allege that PepsiCo sought to push up prices of soda and other goods at retailers to help Walmart. (WSJ)

Tens of millions of South Koreans had their personal data leaked in a breach of Coupang, the country’s equivalent of Amazon. (WSJ)

Amazon is partnering with a JPMorgan Chase-backed startup to provide financing for small online businesses. (Bloomberg)

Supply-chain technology provider Zebra Technologies is looking to potentially sell its robotics arm. (DC Velocity)

J&J Snack Foods, which makes Dippin’ Dots and Icee products, will close three U.S. production facilities. (Supply Chain Dive)

Taiwan's Wan Hai Lines approved a deal worth almost $500 million for six dual-fuel LNG-powered containerships. (Journal of Commerce)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com.

Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.